As previously reported, on Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This is the second of two entries on the March 9th FinTech Forum. Today’s post focuses blockchain technologies. Coverage of the opening remarks and the AI discussion may … Continue Reading
On Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This was the FTC’s third forum on issues in FinTech. Previous FinTech Forums covered marketplace lending and crowdfunding and peer-to-peer payments.
In opening remarks, the FTC acknowledged the benefits of technological … Continue Reading
Ever since the first draft of the EU-US Privacy Shield framework was published in early 2016, groups opposed to the idea have indicated their intent to challenge the legality of the framework under EU law. Recently, the privacy advocacy group Digital Rights Ireland (DRI) made good on that promise. Following the filing of a formal complaint on 15 September asking … Continue Reading
On 29 August the FTC announced a request for public comment on the Standards for Safeguarding Consumer Information Rule (the Safeguards Rule). The FTC promulgated the Safeguards Rule in 2002, implementing Title V of the Gramm-Leach-Bliley Act (GLBA), which required federal agencies to establish standards for the administrative, technical, and physical safeguards employed by financial institutions for certain information. In … Continue Reading
On Wednesday, August 17, 2016, the Future of Privacy Forum (FPF) released a set of detailed guidelines for the collection and use of consumer-generated wellness data. The document, Best Practices for Consumer Wearables & Wellness Apps & Devices, was drafted by FPF with input from a wide range of stakeholders, including privacy advocates, companies, and regulators. The Best Practices… Continue Reading
In a case that could have far-reaching implications for how companies are held liable for data security lapses, the FTC issued an order and opinion unanimously overturning its Chief Administrative Law Judge’s (ALJ) November 2015 dismissal of charges that LabMD’s allegedly lax data security measures were unfair practices under Section 5 of the FTC Act (see our coverage of the … Continue Reading
EDITOR’S NOTE: We are excited to present this entry in our new TMT2020 series, which reflects the key technology, media, and telecoms legal issues that are expected to impact today’s organizations and tomorrow’s marketplace. It also provides an opportunity to highlight contributions by TMT associates across our global offices and practice areas.
The February 29, 2016 announcement of the new … Continue Reading
On March 2, 2016, the Consumer Financial Protection Bureau (CFPB) announced its first data security enforcement action in the form of a Consent Order with online payment platform Dwolla, Inc. The five-year Consent Order is based on CFPB allegations that Dwolla engaged in deceptive acts and practices by misrepresenting to consumers that it had “reasonable and appropriate data security practices.” … Continue Reading
On February 29, 2016, and after more than two years of negotiations with the U.S. Department of Commerce, the European Commission released its draft Decision on the adequacy of the new EU–U.S. Privacy Shield program, accompanied by new information on how the Program will work. The Privacy Shield documentation is significantly more detailed than that associated with its predecessor, the … Continue Reading
Earlier this month, the Federal Deposit Insurance Corporation’s (FDIC) Division of Risk Management Supervision released “A Framework for Cybersecurity” in its Winter 2015 issue of Supervisory Insights. The FDIC article outlines the current and evolving cyber threat landscape and identifies the challenges presented by these threats as “critical” to financial institutions. The article describes regulatory steps the FDIC … Continue Reading
On February 9, 2016, President Obama directed his Administration to implement a Cybersecurity National Action Plan (CNAP), calling it a “bold reassessment of the way we approach security in the digital age.” Certainly, the cybersecurity budget increase associated with CNAP is significant: the 2017 Presidential Fiscal Year budget will be $19 billion—35% above that of Fiscal Year 2016.
What is … Continue Reading
On Monday, June 1, a District Court in the Northern District of California granted AOL’s motion to dismiss plaintiff Nicholas Derby’s putative TCPA class action complaint on the grounds that the complaint failed to allege facts sufficient to establish that the AOL Instant Messenger (AIM) service was an automatic telephonic dialing system (ATDS) under the Act. Notably, the court did … Continue Reading